A $5,000 loan made on March 15 at an interest rate of 7.5%, is to be repaid by payments of $2,000 on June 15, $2,000 on October 15, and a final payment on December 15. What is the amount of the final payment required to pay off the loan in full?

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The Answer of A $5,000 loan made on March 15 at an interest rate of 7.5%, is to be repaid by payments of $2,000 on June 15, $2,000 on October 15, and a final payment on December 15. What is the amount of the final payment required to pay off the loan in full?

A $5,000 Loan Made on March 15 at an Interest